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43003 N Old Mine Road Cave Creek, AZ 85331

3 Beds 2 Baths 2,400 sqft Built 1995

$650,000

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $270.83
  • 6 Days on Market
  • MLS # : 6182802
  • Updated Date : 01/19/2021 at 21:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,400 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Views, Views, Views: Tonto Hills 1.6 acre property with breathtaking Mountain and Valley views. Adjacent to Tonto National Forest that has 2.8 million acres of hiking and horseback riding available. Lakes nearby for camping boating and fishing. Horse Barn on the property with multiple Stalls, Tack Room and Bridal Path Access. All stalls have footings and easy to enclose. Horse Barn could also be utilized for workshop or storage. Wonderfully maintained home. Exterior house painted in 2018, New Tile Roof and Underlay in 2018, New Water Heater in 2018, new toilets in 2018, new dishwasher in 2019, new Range in 2019, new Disposal 2020, 5 new windows in 2018 and new carpet in 2021.

SEE MORE

PRICE & RENT TRENDS

Zip Code: 85331

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k483k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 85331

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10452388

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Black Mountain Elementary School Primary Regular 463 29 8
Sonoran Trails Middle School Middle Regular 841 39 9
Cactus Shadows High School High Regular 1,704 70 8

Black Mountain Elementary School

  • Education Level: Primary
  • # of students: 463
  • # of teachers: 29
8
GreatSchools Rating

Sonoran Trails Middle School

  • Education Level: Middle
  • # of students: 841
  • # of teachers: 39
9
GreatSchools Rating

Cactus Shadows High School

  • Education Level: High
  • # of students: 1,704
  • # of teachers: 70
8
GreatSchools Rating
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$2,258
Property Tax -$266
Property Insurance -$74
HOA -$1
Property Management Fees -$99
CASH FLOW
-$338

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$650,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.17%
Appreciation Year (1-5) 3.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.60%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$14,851

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,360

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,928

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$2,360
1$2,3602$2,800
$2,800
RENT COMPS ANALYSIS
  • 43003 N Old Mine Road Cave Creek, AZ 1
    • 3 beds 2 baths ∙ 2,400 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,400 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $0.98
    •  
  • 42833 N Ho Ho Kam Road Cave Creek, AZ 2
    • 3 beds 2 baths ∙ 2,297 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,297 Sqft ∙ Built 1979
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.22
    •  
PROPERTY LISTING DETAILS
David Addington
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6182802
Last Updated: 01/19/2021
support@investimateroi.com

Indicates a property listed by a real estate brokerage other than HomeUnion/Investimate by Mynd. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright (c) 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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